Cost Basis Reporting to the IRS

SIFMA provides comments to the U.S Senate Finance Committee leadership on the new discussion option from the Joint Committee on Taxation to require brokers to report to the Internal Revenue Service (IRS) and to investors the adjusted cost basis of publicly traded securities that are sold during the preceding years.  SIFMA shares its expertise and makes specific recommendations on the features that SIFMA believes should be included in any new basis reporting requirement.